story by: WesBank - Corporate 28 July 2010 Media Release: Wednesday 28 July 2010
 
Volvo Car South Africa and WesBank join forces
 
The country’s leading vehicle and asset finance company, WesBank, has established an alliance with the premium car brand Volvo Car South Africa to launch a new private label finance to potential Volvo customers. The new joint venture will be known as Volvo Car Financial Services, a division of WesBank.
 
The sale of Volvo Cars by Ford Motor Company afforded Volvo Car SA the opportunity to source a new finance partner. "WesBank was chosen by Volvo Cars for their entrepreneurial approach to vehicle financing and true partnership way of doing business. WesBank is professional and customer oriented. They understand the needs of a premium brand such as Volvo, as well as those of our customers." says Bram van der Reep, MD Volvo Car South Africa.
 
Under the new joint venture, WesBank will, through its specialized Finance and Insurance Managers, provide retail finance to potential customers visiting the various Volvo dealerships. Volvo Car Financial Services will also be the preferred wholesale funding partner to the Volvo Cars dealer network.
 
According to Chris de Kock, Executive Head Sales and Marketing at WesBank, a main pillar of WesBank success is their partnering strategy with leading motor manufacturers as it allows them  the opportunity to engage directly with potential customers at point-of-sale, at the same time enhancing their partners value proposition to potential car buyers.
 
“The new alliance with Volvo Car SA is a unique growth opportunity for both WesBank and Volvo Car SA and we are looking forward to a mutually beneficial relationship”, says Chris de Kock.